Car Loan EMI Calculator

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Break-up of Total Payment

Principal Amt
Interest Amt
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Amortization Schedule

Nowadays, acquiring your ideal car is more accessible than ever, regardless of whether you're employed or running your own business. Unlike in the past, when substantial savings or wealth were prerequisites for purchasing your first car, today, you can easily obtain a New Car Loan and quickly fulfil your dream of car ownership.

Eligibility for a pre-approved Car Loan is based on your income and credit rating, though it is subject to the maximum duration of the loan and the amount borrowed.

Axis Bank offers Car Loans at an attractive rate of interest, low processing fee, a repayment tenure of upto 7 years, and higher loan-to-value ratio (100% on-road price funding on certain models) to purchase a new car. The Car Loan is offered even to proprietorship firms, partnership firms, companies, trusts and societies.

To make the loan repayment comfortable, you have the EMI (Equated Monthly Instalment) facility. So, before you apply for a Car Loan, as a prudent loan planning exercise, make it point to assess how much would be the EMI on your Car Loan.

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What is an EMI?

The Equated Monthly Instalment (or EMI) consists of the principal portion of the loan amount and the interest. Therefore, EMI = principal amount + interest paid on the Car Loan. The EMI, usually, remains fixed for the entire tenure of your loan, and it is to be repaid over the tenure of the loan on a monthly basis.

Mathematically, EMI is calculated as under:

P x R x (1+R)^N / [(1+R)^N-1]

P = Principal amount of the loan

R = Rate of interest

N = Number of monthly instalments.

Axis Bank's Car Loan EMI Calculator is an efficient online tool that instantly calculates your expected monthly EMI. Simply adjust the slider to set your loan amount and get immediate results, helping you gauge your potential EMI outflow. car loan interest rate, and the tenure of your loan (in months).

Here are the five benefits of using the EMI calculator:

  • Easy to access
  • Provides quick results
  • Saves time and energy spent on doing manual calculations
  • Helps you ascertain how much will be your Car Loan EMI outgo
  • Make loan planning easier for you

Keep in mind, the interest rate and loan tenure are crucial factors in determining your loan EMI. A higher interest rate means a higher EMI, and conversely, a lower rate results in a lower EMI. Additionally, choosing a longer loan tenure can decrease your monthly EMI, while a shorter tenure will increase it. Similarly, opting for a longer tenure reduces your EMI and vice versa. So, consider opting for longer loan tenure when you avail a Car Loan so that repayments can become comfortable.

Do note that during the initial months of the Car Loan tenure, you pay more towards interest, and gradually, as you repay the loan, a higher portion is adjusted towards the principal component. This is because; EMIs are computed on a reducing balance method, which works in your favour as a borrower.

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Frequently Asked Questions

  • How to Use Car Loan EMI Calculator?

    Simply key in the amount, rate and tenure for which the car loan is sought, the Car Loan EMI Calculator will automatically reflect the approximate EMI’s applicable for the loan tenure.

    Also, remember to refer the amortization schedule which shows a break-up of the interest and principal repaid each year during the loan tenure.

    For further information or to apply for a loan, simply click on the “Get a call back” button and key in your details.

    Use Axis Bank’s Car Loan EMI calculator to know the indicative EMI for the chosen interest rate and tenure.

  • How is the Car Loan EMI to be paid?

    You can opt for either of these:

    • Standing Instructions (SI) can be used if you have a savings account, salary account, or current account with Axis Bank. Your EMI will be automatically debited from the account you specify.
    • National Automated Clearing House (NACH)/ECS mandate can be used if you do not have an account with Axis Bank and would like your EMIs to be debited automatically at the end of the monthly cycle.
    • Post-Dated Cheques for your Car Loan EMI is also an option if you do not hold an account with Axis Bank and for non-ECS locations.

    Opting for SI or NACH/ECS mode is preferable as it is faster and less prone to errors than PDCs.

    In case if you skip your EMI…

    It’s important to remember that missing EMIs can adversely affect your credit score, reflecting poorly on your financial reliability. For the sake of your financial health, it's advisable to borrow responsibly and ensure timely repayment of your EMIs.

    Yet, in case of insufficient balance or any other reason you skip your EMI, the bank will caution you and may charge a late payment penalty. As a result of skipping the EMI, the tenure of the loan would increase (assuming EMIs remaining the same).

    Note that persistent skipping inflicts the risk of default, and in such a case, your car hypothecated to the bank as collateral for the Car Loan, may get seized. Hence, always make it a point to repay the Car Loan EMI on time.

    And in case if you partially prepay the Car Loan…

    Part-prepayments of Car Loan is possible but subject to part payment charges.

    Likewise, foreclosure of the loan, i.e. paying all the outstanding dues of your Car Loan, is also possible by submitting a foreclosure request to the bank. Foreclosure again is subject to charges.

    Apply for an Axis Bank New Car Loan and make your dream of owning a car come true.

    Broadly there are three ways you can apply:

    • Visiting any Axis Bank Loan centre in person;
    • By calling Axis Bank call centre numbers; or
    • Applying online

    Applying for a Car Loan online is by far the best and comfortable it can be done from anywhere- home, office, café, on-the-go…and can be done any time.

    All you got to do is enter your name, e-mail id, mobile number, state, city, captcha code, and accept the disclaimer policy before you click on the ‘Submit’ button. Soon you will receive a call from one of the Axis Bank representatives, who will explain the details about your car loan.

    Live your dream drive in your dream car today!

  • Why Choose Axis Bank Car Loan?

    The benefits of availing of a car loan from Axis Bank are:

    • Flexibility of amount and tenure: You can get an Axis bank Car loan for amounts starting from Rs. 1 lakh for a period up to 7 years.
    • Axis Bank customers with pre-approved loans, don’t need to deposit income documents and bank statements.
    • Special Benefits for priority banking, Privy Banking and Wealth Banking customers.


Axis Bank does not guarantee accuracy, completeness or correct sequence of any the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained / data generated herein or on its completeness / accuracy. The use of any information set out is entirely at the User's own risk. User should exercise due care and caution (including if necessary, obtaining of advise of tax/ legal/ accounting/ financial/ other professionals) prior to taking of any decision, acting or omitting to act, on the basis of the information contained / data generated herein. Axis Bank does not undertake any liability or responsibility to update any data. No claim (whether in contract, tort (including negligence) or otherwise) shall arise out of or in connection with the services against Axis Bank. Neither Axis Bank nor any of its agents or licensors or group companies shall be liable to user/ any third party, for any direct, indirect, incidental, special or consequential loss or damages (including, without limitation for loss of profit, business opportunity or loss of goodwill) whatsoever, whether in contract, tort, misrepresentation or otherwise arising from the use of these tools/ information contained / data generated herein.

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